20 Yankee Candle stores to shutter in January

""We've made meaningful progress executing our strategy and strengthening Newell Brands, but there is more work to do," Newell Brands President and CEO Chris Peterson said in a statement. "This productivity plan is about taking the next, disciplined step to enhance efficiency, sharpen our strategic focus, and deliver stronger, more consistent performance. Ultimately, our goal is to deliver greater value for consumers and create sustained long-term value for our shareholders.""

""The store closures are part of Newell Brands' "global productivity plan designed to strengthen the company's competitiveness, deliver greater value for consumers, and drive long-term value creation," according to the announcement. The closure of 20 stores, which represent approximately 1% of brand sales, is a "retail optimization" that aligns "with modern consumer shopping behaviors" and the Newell Brands' overall growth strategy, the company said.""

Newell Brands will close 20 Yankee Candle stores in the U.S. and Canada in January as part of a global productivity plan to strengthen competitiveness and deliver greater consumer value. The 20 closures represent roughly 1% of Yankee Candle brand sales and are described as a retail optimization aligned with modern consumer shopping behaviors and the parent company's growth strategy. Specific store locations to be closed have not been announced. There are 36 Yankee Candle locations across New England: 15 in Massachusetts, 9 in New Hampshire, 7 in Connecticut, 3 in Rhode Island, and 2 in Maine. Newell Brands also plans to lay off 900 employees, about 10% of its professional and clerical workforce.

Read at Boston.com